Webcast: BUDGETING - R12.1.3 ORACLE GENERAL LEDGER
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The document presents a webinar on budgeting with Oracle General Ledger, covering the budgeting cycle, methods, and various functionalities such as creating, maintaining, and reporting budgets. It emphasizes the purpose of budgeting in financial planning, including resource control, departmental coordination, and managerial performance evaluation. Additionally, it outlines practical steps for budget creation, management, and the use of integrated web applications for budget data handling.
Webcast: BUDGETING - R12.1.3 ORACLE GENERAL LEDGER
- 1. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. Presents Budgeting R-12 General Ledger A Webinar
- 2. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Disclaimer All other trademarks, service marks and logos used in this webinar are the trademarks, service marks or logos of their respective owners. The views expressed in this webinar are views of the speakers and do not necessarily reflect the views of iWare Logic Pvt. Ltd
- 3. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Agenda Understand Budget Accounting Cycle Use Various Budget Methods Budgets and Budgets Organizations Manual Budgets Effective use of Budget Upload via Web ADI Create Budgets and Maintain Budgets Review and correct budgets Freeze Budgets Reports on budgets Q & A Session
- 4. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Overview What is Budgeting? Budgeting is the process of identifying, gathering, summarizing, and communicating financial and non-financial information about an organization`s future activities. In a business, the budgeting for operations will include the following: Preparing estimates of future sales Preparing estimates of future cash collections and disbursements Preparing estimates of the future day-to-day activities of the organization Summarizing these estimates into an income statement and balance sheet
- 5. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Purpose Budget helps to aid the planning of actual operations to help managers to consider how the conditions might change and what steps should be taken now and by encouraging managers to consider problems before they arise. It also helps co-ordinate the activities of the organization by compelling managers to examine relationships between their own operation and those of other departments. Other essentials of budget include: To control resources To communicate plans to various responsibility center managers To motivate managers to strive to achieve budget goals To evaluate the performance of managers To provide visibility into the company's performance For accountability
- 6. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Budgeting in Oracle General Ledger Create an Unlimited number of budgets or forecasts: Control user access to budgets. Create budget organization to mirror the various levels of your company`s Organization and to control user access to the budget information. Budgeting with Web Application Desktop Integrator (Web ADI): Enter budget amounts in the familiarity of a spreadsheet, then upload you Budget data to General Ledger Download both budget or actual amounts and use these to calculate new budgets Amounts, then upload the new budget amount into Oracle General Ledger
- 7. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Budget MARCH 2014 Cost Center 350 Actuals Budgets Variance Airfare (7640) 14000 15000 1000 Telephone (5510) 4000 3500 500 Health and Welfare (5750) 1500 1700 200 Total 19500 20200 700
- 8. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Budget Structure Name: FY96PLANName: FY96PLAN CC100 ….. $3000 CC200 ….. $1500 Name: FY2014PLAN Jan-1994 to Dec-1994 Periods Accounts Amounts A budget consists of periods, accounts, and amounts. Oracle General Ledger provides you a variety of features to define, maintain, and track your budgets, including the ability to upload budgets in an Excel spread sheet.
- 9. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Budget Accounting Cycle Step 1: Define budgets and budget organizations. Step 2: Enter budget amounts. Step 3: Review and correct budgets. Step 4: Freeze budgets. Step 5: Report on budgets.
- 10. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Budget Methods Oracle Enterprise Planning and Budgeting Non Oracle Systems Budget WizardOracle General Ledger Manual Budgets
- 11. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Creating Budget in Oracle General Ledger Step 1: Plan budget Structure. Step 2: Create budgets and hierarchies. Step 3: Set up budget organization.
- 12. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Current Define a Budget Year 2014 Budget Enter Name and Description Enter Status Create JEs? Up to 60 Periods Open Frozen
- 13. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com • Create a budget to represent a collection of Estimated amounts for a range of accounting periods. • You can create Budget hierarchies by assigning lower– level budgets to a master budget. • Maintain multiple versions of the budgets. Define Budget
- 14. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Define Budget Organizations Engineering CC #300 Maintenance CC #100 Administration CC #200
- 15. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Contain ranges of accounts that make up the budget. Create as many budget organizations as you need, provided their account ranges do not overlap for the same currency within the same ledger. Define a Budget Budgeting hierarchies enable you to control budgeting authority, and easily identify budgets that exceed control limits.
- 16. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Inquire and Report Password Security All Account Ranges Budget Organizations Freeze
- 17. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Budget Upload via Web ADI General Ledger Journal Import Other feeder systems Web ADI Budgets Budget Wizard: Launch spreadsheet web-interface from GL responsibility to download, modify, and upload budget amounts, compare budget amounts and actual amounts, create graphs. Add Budget Notes to add descriptions
- 18. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Budget Hierarchies You can use the following methods to structure budgets: • Top-down budgeting • Bottom-up budgeting • Middle-out budgeting
- 19. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Essentials in Budgeting E-Business Suite allows budgets to be managed in the same way as normal transactions, for each unique combination of your chart of accounts. You can use summary accounts or rollup groups to manage and maintain budget values: Budgets can be directly entered into the application using forms. Budget creation requires the creation of the following elements: Budget Year (can span multiple years). Budget Organization (typically departmental or a group of departments). This will contain all the account combinations that you will create a budget amount for. Budgets are not required for all the account combinations, only for those that you need to report budget variances. Budgets are managed within budget organizations.
- 20. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Multiple Versions of a Budget Copy existing budgets to create multiple versions of a budget for what if analysed Balance Sheet Income Statement Budget vs. Actuals
- 21. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Journal Creation Budget Amounts No Budget Journals Budget Formulas No Mass Budget Journals Transferred Budget Amounts Budget Wizard No Journal Wizard Upload Budgets No Budget Entry Method Journal Entry Created?
- 22. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Budget Entry Modes Journal Mode Enter incremental amounts Worksheet Mode Enter ending amounts Single Row Mode Enter ending amounts Entry Mode Types of Amounts to Enter
- 23. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Budget Rules 50 50 50 50 Divide Evenly Repeat per Period 01 200 5999 X An Existing Account Balance Number
- 24. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Review, Correct and Freeze Budget • If a budget journal entry is generated, then, review and correct via: Enter Budget Journal screen: if the journal has been posted. Enter Journals screen: if the journal is in the un-posted status. If a budget journal entry is NOT generated, then, review and correct via: Enter Budget Amounts screen Budget Wizard Freeze a budget, budget organization, budget formula batch or range of budget accounts to prevent accidental or unauthorized changes. Freeze or unfreeze an entire budget by changing the budget status in the Define Budget window.
- 25. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Integrated Web-based Spreadsheet Interface Setup and Process SETUP Define profile option: Default Desktop Viewer PROCESS Select Layout Select Data to Import (optional) Create Excel document Enter journals Upload Launch Journal Wizard Select Layout Select Budget to Download Create Excel document Enter budget amounts Upload Launch Budget Wizard
- 26. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Integrated Web-based Spreadsheet Interface Process – Launch Budget Wizard
- 27. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com After download of Budget from GL
- 28. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Manually entered amount into Spreadsheet
- 29. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Upload of Budget into GL
- 30. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Updated amounts in GL
- 31. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Internal Budget Transfer
- 32. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com After Transfer of Amount
- 33. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Questions and Answers Session
- 34. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com About iWare Logic iWare Logic Technologies, an arm of Vyom Labs Group of Companies is an Enterprise Business Applications consulting firm, specializing in Oracle Applications and technologies. iWare Logic, an Oracle Gold Partner services clients in applications like Siebel, Oracle e-Business Suite, PeopleSoft. iWare Logic offers application development delivery with a focus on application customizations, workflows, integrations, and data conversions. We also provide both functional and technical staff augmentation for Oracle Enterprise Applications’ Implementation and support. iWare Logic’s focus on the Oracle Enterprise Applications, and competitive rate structure represent a value that is unique in professional services today. For any queries, feel free to drop a mail to: info@iwarelogic.com
- 35. Click to edit Master title style www.iwarelogic.com © Copyright 2014 iWare Logic Technologies Pvt. Ltd. www.iwarelogic.com Thank You iWare Logic Technologies Pvt. Ltd. S.No.- 4, B.G. Murkute Building, Near Hotel Mahabaleshwar, Baner Road, Pune (MH), India - 411045 Email: info@iwarelogic.com Website: www.iwarelogic.com